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. >> what don't they know about the fiscal cliff? >> they look to be down 10%. >> we'll watch it. as people know in this market, many times the stock price has been going up. we'll keep an eye on this. it may be throwing people. what does it say about copper overall and the price of the metal. >> i worry, by the way, watch energy 21. this is exxi. another company that bought old properties. one of the things that's happening that's driving this, okay, is that there's new technology. american technology that's able to access oil that the big guys have given up on whether it be exxon given up on energy 21 has or bp and it turns out that these fines may have been bigger so pxp takes advantage of the fact there's new technology. pxp is a deal maker but ready to trade because capital gains taxes are going up. could be a fiscal cliff. the gulf is hotter than it's ever been even a few years ago it was ice cold. >> big story in the journal about exploration in this country. production 15-year high. brand new chapter here. look at the bottom of your screen. citigroup is cutting 11,000 jobs
. >> what don't they know about the fiscal cliff? >> they look to be down 10%. >> we'll watch it. as people know in this market, many times the stock price has been going up. we'll keep an eye on this. it may be throwing people. what does it say about copper overall and the price of the metal. >> i worry, by the way, watch energy 21. this is exxi. another company that bought old properties. one of the things that's happening that's driving this, okay, is that there's new...
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Nov 29, 2012
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cliff. this time it was house speaker boehner speaking with reporters after meeting with treasury secretary tim geithner. eamon javers is in washington with the latest. eamon, the sentiment down here is these guys should stop talking and start crafting a deal. >> reporter: that's the sentiment here in the hallways of capitol hill as well, sue. i can tell you that. we are starting to get a little more clarity on what's going on here today. i just had the chance just a few moments ago to button-hole senator harry reid here in the hallway, asking him a very specific question. i said did treasury secretary tim geithner come up here with a new specific offer for republicans? is that what he laid down on the table for speaker john boehner today? reid told me -- no, there was no specific offer here today from geithner to the republican side. he said that the president of the united states made the democrats' over two weeks ago and there's been no new specific offer since then. i think that explains
cliff. this time it was house speaker boehner speaking with reporters after meeting with treasury secretary tim geithner. eamon javers is in washington with the latest. eamon, the sentiment down here is these guys should stop talking and start crafting a deal. >> reporter: that's the sentiment here in the hallways of capitol hill as well, sue. i can tell you that. we are starting to get a little more clarity on what's going on here today. i just had the chance just a few moments ago to...
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Dec 7, 2012
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if the fiscal cliff has you nervous, this may be some relaxing news. as of midnight last night, washington is now the first state in the united states to legalize marijuana for adult recreational use, but the law is not without complications. jane wells is live in l.a. with more on that story. good morning, jane. >> hi, carl. lighting up in seattle is one thing. figuring out how these laws are going to work is another. pot possession may be legal in washington, but it will be another year before the state sets up the bureaucracy, creating a network of legal growers and retailers. they're going to have to set standards for thc. but what about pricing? the state is hoping to raise $600 million a year for pot and they say it could add 5% to gross state product by 2017. but ktlu reports the state's office of finance management says retail prices and medical pot clinics are already $3er gram higher than street prices and you add in taxes. are people going to pay more if they can get it for less. and in colorado, its pot law goes into effect next month but t
if the fiscal cliff has you nervous, this may be some relaxing news. as of midnight last night, washington is now the first state in the united states to legalize marijuana for adult recreational use, but the law is not without complications. jane wells is live in l.a. with more on that story. good morning, jane. >> hi, carl. lighting up in seattle is one thing. figuring out how these laws are going to work is another. pot possession may be legal in washington, but it will be another year...
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Nov 30, 2012
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this is a fiscal cliff now. this is a prisoner's dilemma and everybody is staring each other down and we're all sitting at a poker table wondering who has the best cards. >> so what do you think will happen with global central banks? we know the fed will take operation twist and turn it into qe-3-b, i guess. i don't know what you want to call it. but instead of swapping short term for long term debt, it's going to buy long term debt outright. >> printing money, right. >> conventional quantitative easing, printing money, whatever you want to call it. and what are we expecting out of europe? what is this with the 1.30 on the euro, a currency everybody says ought to weaken? >> but there are still people who are when the risk on models take over, they buy the euro. that won't last forever as we're starting to see what's going on in france. but spain is certainly the next issue. they had to push greece out of the way and it's interesting the way they resolved greece was exactly what the germans have leaked to reuters
this is a fiscal cliff now. this is a prisoner's dilemma and everybody is staring each other down and we're all sitting at a poker table wondering who has the best cards. >> so what do you think will happen with global central banks? we know the fed will take operation twist and turn it into qe-3-b, i guess. i don't know what you want to call it. but instead of swapping short term for long term debt, it's going to buy long term debt outright. >> printing money, right. >>...
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cramer is keeping you one step ahead of the fiscal cliff fiasco. tonight he is getting a read on the regionals the ceo of a national bank. to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. n you take a closer look.... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. is bigger than we think ... sometimelike the flu.fer from with aches, fever and chills- the flu's a really big deal. so why treat it like it's a little cold? there's something that works differently than over-the-counter remedies. presc
cramer is keeping you one step ahead of the fiscal cliff fiasco. tonight he is getting a read on the regionals the ceo of a national bank. to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. n you take a closer look.... ...at the best schools in...
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Dec 7, 2012
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as john points out, it's a proxy for the fiscal cliff. that's exactly what's going on. if you look at this desk, there appears to be a 200-pound weight ape coring down the desk because you have the gargantuan brothers sitting over there. you've got these weekly options, december options expiration, tax loss selling and it's pulling like a weight toward that $500 level. that doesn't mean that longer term this is not still a fundamentally sound company and it doesn't mean that the apple television story is dead either. >> all right. let's fast forward to next week where you know they'll be in focus. mike, you've heard the banter on the desk. what's the reason you think that apple has had this tumultuous week it's han, the worst in 2 1/2 years. >> look. i think apple became for good and bad reasons kind of the proxy for everything people hoped out of the market and i think the fever has to break and is in the process of breaking. the stock's down $176,000 but to to level, an increase, up 66% since the beginning of last year and it's still 100 billion dollars. that psycholo
as john points out, it's a proxy for the fiscal cliff. that's exactly what's going on. if you look at this desk, there appears to be a 200-pound weight ape coring down the desk because you have the gargantuan brothers sitting over there. you've got these weekly options, december options expiration, tax loss selling and it's pulling like a weight toward that $500 level. that doesn't mean that longer term this is not still a fundamentally sound company and it doesn't mean that the apple...
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Nov 30, 2012
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remember, if we do go over the fiscal cliff that will take the whole market down, so you put this on a shopping list, because that could give you a terrific entry point. i think the housing cycle is so darn strong, it can trump the ills of the fiscal cliff, at least once it's sorted out. ultimately the cliff will be sorted out. of the three housing-related ipos, you need to be careful with zillow and trulia, the only one i will endorse is realogy, and only if it comes down to a level where it's cheap. how about michael in california, please? michael. >> caller: boo-yah to you, jim. with a solid dividend that pays monthly at almost a 16% yield, its current valuation a dollar beneath book value, isn't a.r.r. a great value? >> you know what? i have thought it was. this is another one of those real estate mortgage reits that i have somewhat been mystified about the price performance. someone asked about this on the street, and i said i think it should be doing better. i agree, i think it's an okay buy. john in oregon, please. >> caller: boo-yah, jimmy, how are you? >> boo-yah back at you
remember, if we do go over the fiscal cliff that will take the whole market down, so you put this on a shopping list, because that could give you a terrific entry point. i think the housing cycle is so darn strong, it can trump the ills of the fiscal cliff, at least once it's sorted out. ultimately the cliff will be sorted out. of the three housing-related ipos, you need to be careful with zillow and trulia, the only one i will endorse is realogy, and only if it comes down to a level where it's...
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i suspect the toll tells a story that it goes down the fiscal cliff monday. every day is fiscal cliff tuesday, wednesday, thursday. you get the picture. anyway, you should pull the trigger here to buy it here if the fiscal cliff does what i'm afraid of. brown foreman reports wednesday. this is an interesting one. why? because goldman downgraded it to sell. just last night. i've seen this movie. they were wrong last time. they'll be wrong again. i'm going to bet them a bottle of jack daniels that will be the case. in fact i'll bet them a case of jack daniels that will be the case. if they're close, as we told you we like asina. and i would be willing to be a buyer of that niche retailer ahead of this quarter because of some merger gains i think we'll hear about. but again only on news of setbacks to the fiscal cliff talks. we're not going to go in and buy anything these days. you'll get some representative congressman, senator come on say you stupid idiot. you bought stock and i'm talking on a microphone. i'm sending the stock market down because there's no pr
i suspect the toll tells a story that it goes down the fiscal cliff monday. every day is fiscal cliff tuesday, wednesday, thursday. you get the picture. anyway, you should pull the trigger here to buy it here if the fiscal cliff does what i'm afraid of. brown foreman reports wednesday. this is an interesting one. why? because goldman downgraded it to sell. just last night. i've seen this movie. they were wrong last time. they'll be wrong again. i'm going to bet them a bottle of jack daniels...
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dow futures at this point are down about by 22. >>> what impact will going over the fiscal cliff have on stocks? we've been talking about it with our guest host dan gilbert. we've decided we have time? >> as far as the fiscal cliff? >> no, we have time for mortgages. >> i think we have time. the fed has stated they want to hold short-term interest rates through 2014. we know they don't technically control long-term interest rates unless they are buying mortgages which they have done over the last couple years. so, you know, it appears by all measures that you have some time, but you never know because these things can change very rapidly. rates tend to go up higher a lot quicker than they come down. >> you've seen the commercial allied financial where they say the greatest economists in the world and a nobel laureate and do you know where interest rates are going in a year, and he says no. we should know what cd rates are going. >> i think they've done the best they can -- >> what is the maximum amount cd rates could fluctuate in the next 12 months? >> could fluctuate? >> a quarter po
dow futures at this point are down about by 22. >>> what impact will going over the fiscal cliff have on stocks? we've been talking about it with our guest host dan gilbert. we've decided we have time? >> as far as the fiscal cliff? >> no, we have time for mortgages. >> i think we have time. the fed has stated they want to hold short-term interest rates through 2014. we know they don't technically control long-term interest rates unless they are buying mortgages which...
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the soap opera we call the fiscal cliff. before we get to our chief washington john harwood and the president is meeting with another grouch ceos, i need to start with eamon javers on capitol hill where lawmakers are skipping down early for a long weekend. eamon, wasn't thanksgiving just a couple weeks ago? >> it was. let me check michael ichaey cal. you see rank and file members of congress leaving the capitol. they are done for the week. they're headed back loam to their hometown districts. a lot of folks focused on this negotiation right now but the reality is that the negotiations are taking place among just a very few, very high level people. i was talking to a few rank and file members yesterday who said they were frustrated there is not a whole lot for them to do, they are just sitting around here waiting for some break-through in these negotiations. they want something to do on the floor, in their offices and there is not much for them to sink their teeth into. now they're going into their district. leadership is goi
the soap opera we call the fiscal cliff. before we get to our chief washington john harwood and the president is meeting with another grouch ceos, i need to start with eamon javers on capitol hill where lawmakers are skipping down early for a long weekend. eamon, wasn't thanksgiving just a couple weeks ago? >> it was. let me check michael ichaey cal. you see rank and file members of congress leaving the capitol. they are done for the week. they're headed back loam to their hometown...
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if it does come down a bit because of the fiscal cliff, that's small pockets. overall, in general in the country, we are seeing a firm price recovery. >> but the big issue there is, if we eliminate the mortgage tax deduction for people under $1 million, we could really get hurt. >> that's a great point. this is why everything is tied to this fiscal cliff. >> exactly. >> you take out the mortgage deduction, and the traction we saw on the housing market reverses course. >> totally. i don't see how we can give $8,000 credits one year and the next year we take away the mortgage tax detux. a little consistency would be nice. >> are high-end home prices, do you think, are they ever going to go back to where we were when we saw them at the peak? >> for the highest end of the market, yes. i think they'll go even above the peak. >> why do you believe that? >> because people looking at real estate really as an asset again. i think a lot of money is out of the markets and back in real estate. when you're getting 20% on your money, it's going to be in the markets. when you
if it does come down a bit because of the fiscal cliff, that's small pockets. overall, in general in the country, we are seeing a firm price recovery. >> but the big issue there is, if we eliminate the mortgage tax deduction for people under $1 million, we could really get hurt. >> that's a great point. this is why everything is tied to this fiscal cliff. >> exactly. >> you take out the mortgage deduction, and the traction we saw on the housing market reverses course....
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bob, can you really make a deal on the fiscal cliff when the negotiation is out in public? do you think we'll get a deal done? that's what everybody wants to know. >> if everybody thinks we ought to get to a deal, we'll get to a deal. the public part of this, obviously, it's different. you got to get 435 people to vote in the house and 100 in the senate. different than getting a board to approve a fundamentally, getting to a deal is about understanding expectations. this public thing is a very good point. it couldn't be different. when two ceos are meeting to do a merger negotiation, one guy shows up in jeans, and the other guy has sunglasses on. they meet at the o'hare hilton. they don't want anybody to know about it. >> wait a minute. let's point this out. go ahead, jeff. >> the risk is taking the worst part of what wall street does, which is this negotiation of do a deal, do a deal, do a deal, do any deal. that's what happened with hp-autonomy. that's what you don't want to take from wall street in this situation. >> let's face it. a ceo is judged on success by the botto
bob, can you really make a deal on the fiscal cliff when the negotiation is out in public? do you think we'll get a deal done? that's what everybody wants to know. >> if everybody thinks we ought to get to a deal, we'll get to a deal. the public part of this, obviously, it's different. you got to get 435 people to vote in the house and 100 in the senate. different than getting a board to approve a fundamentally, getting to a deal is about understanding expectations. this public thing is a...
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. >> for what, the fiscal cliff or the fiscal abyss? >> for both. >> for both. >> so that a down payment -- a compromise down payment on approximately $4 trillion. i think when you pull it apart, you have about a trillion dollars in discretionary spending that has mostly been agreed upon and you have taxes and the entitlements, the mandatory. >> the entitlements are the sticking point. whoa. did you see that? you think that's funny? >> set that up for you. >> you think that's funny, mac? you do this? look at this. this is booby trapped, man. it won't stay up. which can really be a problem. you can laugh at that. it's okay. nobody's watching. it's 6:00 a.m. that got you going. >> when you look through, i guess the devil is in the details in terms of what you're looking at in spending, cuts, entitlement cuts and with the tax increases, and you're right, both sides have put a plan on the table. they're pretty far apart, but at least now you know there's some framework for how you get to the middle. what do you think, 1.2 trillion in tax in
. >> for what, the fiscal cliff or the fiscal abyss? >> for both. >> for both. >> so that a down payment -- a compromise down payment on approximately $4 trillion. i think when you pull it apart, you have about a trillion dollars in discretionary spending that has mostly been agreed upon and you have taxes and the entitlements, the mandatory. >> the entitlements are the sticking point. whoa. did you see that? you think that's funny? >> set that up for you....
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is there anything that could happen out of the fiscal cliff negotiations that could cause you to ratchet down that expectation? >> sure. so here's the worst case scenario. we go over the cliff for an extended period of time and that a basically throws us into a global recession, a u.s. recession that bleeds into a global recession. in that case, you know, i would not necessarily be as bullish as i am today. but i actually think that we get our act together. we come up with a reasonable solution. maybe a messy kind of multistage fix. but we do get to some kind of a point of clarity come mid next year. at that point, i think what drives the market higher is that corporations who are sitting on tons of cash actually start to spend it and do something interesting and growth acreative with all the capital they've been hoarding. >> when you say they'll get to something -- how long do you think they have? i think they really don't have very long at all after the beginning of the year. >> i agree. i think the longer they wait, the worse it gets. what i think happens is the market -- >> but they
is there anything that could happen out of the fiscal cliff negotiations that could cause you to ratchet down that expectation? >> sure. so here's the worst case scenario. we go over the cliff for an extended period of time and that a basically throws us into a global recession, a u.s. recession that bleeds into a global recession. in that case, you know, i would not necessarily be as bullish as i am today. but i actually think that we get our act together. we come up with a reasonable...
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this stock will go down on a fiscal cliff situation. that might be the chance to buy the rest. "mad money" is back after the break. >>> every now and then a piece research comes along and blows your mind. forces you to reexamine assumptions you thought were etched in stone. that's how i feel about today's incredible goldman sachs upgrade of dell. not from hold to buy. but from sell to buy. initially i dismissed this piece, written by old hand bill shoep as sophistry. i was reacting to the headline report of the change of recommendation. what makes me so intrigued now? first there's nothing like being right and boy has he been right about this one. he took dell to a sell two years ago. stock dropped 31% versus a 14% gain in the s&p 500. if that doesn't grab your attention, i don't know what will. second he's not making outrageous claims with the upgrade, the stock was at $9 when he made the call and he's using a $13 target. shoep has been very much against investing in the deep-value hardware plays, and he's felt that forever. he's been all over the shift in mobility and cloud c
this stock will go down on a fiscal cliff situation. that might be the chance to buy the rest. "mad money" is back after the break. >>> every now and then a piece research comes along and blows your mind. forces you to reexamine assumptions you thought were etched in stone. that's how i feel about today's incredible goldman sachs upgrade of dell. not from hold to buy. but from sell to buy. initially i dismissed this piece, written by old hand bill shoep as sophistry. i was...
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wheef been whipsawing up and down, based on fears about fiscal cliff. and hopes that we might get a possible deal to bridge the fiscal cliff in washington. but through the period these ten growth stocks have held up surprisingly well. i say surprising, because these stocks all had huge gains going into the fourth quarter. and with the fiscal cliff looming, many investors have been selling their biggest winners to take advantage of the low capital gains tax that will likely go away come january. if we get a positive resolution to the fiscal cliff. you'll want to buy these stocks hand over fist. because then they'll really be air to roar. how have the anounted names done? >> amazon starteded at 259, pulled back to 220. before rebounding to 250, where it is right now. google has been pounded. it went from over 760 to below 660, but it's rebounded to 695. mastercard and visa, they took 25-point dives. i told to you buy them into weakness. falling from 475 to 450, and valued to 487. great ones to buy now. a dozen points where above where i recommended. that'
wheef been whipsawing up and down, based on fears about fiscal cliff. and hopes that we might get a possible deal to bridge the fiscal cliff in washington. but through the period these ten growth stocks have held up surprisingly well. i say surprising, because these stocks all had huge gains going into the fourth quarter. and with the fiscal cliff looming, many investors have been selling their biggest winners to take advantage of the low capital gains tax that will likely go away come january....
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it actually blamed the fiscal cliff in part, as well as super storm sandy. the ceo said consumers were distracted by the cliff. the storm and the election. staying with clothing, vera bradley -- well, handbags. those shares also tanking and they are blaming sandy as well but also noted their holiday season is off to a slow start. jeffri jeffries raising the tart fro tm $22 to $20. not all bad news. finisar, higher demand for tranceivers. what else? the stock down 17% year to date. finally, zynga. take a look at shares. they are up nearly 7% because they filed for a gambling license. that is right. the virtual game company wants to become a real poker company. let's bring in julia boorstin with more on this zynga story. seems like if they get it, a completely transformative thing. >> it would be transformative and zynga's definitely pushing forward with its plans to eventually make money from online gambling but the key thing here is that this is really a ways off. the stock soared as much as 9% higher this morning after it came out that zynga applied for rea
it actually blamed the fiscal cliff in part, as well as super storm sandy. the ceo said consumers were distracted by the cliff. the storm and the election. staying with clothing, vera bradley -- well, handbags. those shares also tanking and they are blaming sandy as well but also noted their holiday season is off to a slow start. jeffri jeffries raising the tart fro tm $22 to $20. not all bad news. finisar, higher demand for tranceivers. what else? the stock down 17% year to date. finally,...
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we need to deal with the fiscal cliff. have a credible down payment on the tax and spending side. bridge to a grand bargain next year. the fiscal cliff is the symptom. structural deficit is the disease. we need to learn from australia, canada, new zealand, sweden. we need to do it next year. >> all right. >> get dr. dave to washington right away so that we avoid what cramer on "meet the press" this weekend had great line. he said on january 8th when the reporting starts, there will be a foot race to fire people if we don't get this cliff taken care of which is why if we're going over the
we need to deal with the fiscal cliff. have a credible down payment on the tax and spending side. bridge to a grand bargain next year. the fiscal cliff is the symptom. structural deficit is the disease. we need to learn from australia, canada, new zealand, sweden. we need to do it next year. >> all right. >> get dr. dave to washington right away so that we avoid what cramer on "meet the press" this weekend had great line. he said on january 8th when the reporting starts,...
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other people feel that everything goes down in a fiscal cliff situation. i mean, commodities are saying we're going to go over the cliff. that's what i think. >> it's interesting. there are these recent reports tallying how many american eagle gold coins americans are buying. is that the ultimate safe haven trade. if americans are buying gold coins in record numbers, the strongest sales since 1998, and it's not just seasonality here. it's interesting. >> i own some. i own silver. >> silver and gold. >> you can buy silver and gold. you can actually -- there's a big markup in coins. the government doesn't help. you can own pieces of silver and pieces of gold. >> do you have some on you right now? >> no, i don't. i have it buried in the backyard. i have it in a vault. never bury your gold in the backyard. >> i'll remember that. thank you for that advice. >> first we have to get backyard. >> el paso electric company celebrating tenth anniversary. yit celebrating its 100th anniversary. want to go straight to mary thompson with breaking news out of fdic. >> this
other people feel that everything goes down in a fiscal cliff situation. i mean, commodities are saying we're going to go over the cliff. that's what i think. >> it's interesting. there are these recent reports tallying how many american eagle gold coins americans are buying. is that the ultimate safe haven trade. if americans are buying gold coins in record numbers, the strongest sales since 1998, and it's not just seasonality here. it's interesting. >> i own some. i own silver....
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but first -- >>> still to come with the fiscal cliff getting closer -- >> if i were involved in a negotiation like this and everybody was purporting to be where they are, i would say that an agreement was reachable. >> we will help you rise above the rhetoric. former federal reserve vice chair alice rivlin, all that and much more on "squawk on the street." wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. serves as director of the national budget. recently served as a mechanical of the simpson bowles commission. you look lovely as always. i'm told you're wearing a rather important pin. >> yes, i have on the pin. i'm in favor of rising above all this part san ship and getting deal done. >> you think that's possible, but you're not sure what that can happen by year's end. you want to give your expecta
but first -- >>> still to come with the fiscal cliff getting closer -- >> if i were involved in a negotiation like this and everybody was purporting to be where they are, i would say that an agreement was reachable. >> we will help you rise above the rhetoric. former federal reserve vice chair alice rivlin, all that and much more on "squawk on the street." wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're...
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you want to know how to fix the fiscal cliff? you have to raise taxes on those 250 above and cap deductions and a cap in deductions on everybody loon looks to be marginally acceptable. we'll have a chance to talk about that chart later but i hear you have some interesting guests on this issue coming up. >> we're talking about that chart and will catch you up later. also the joint economic committee will hold a hearing on the fiscal cliff. can congress come up with a compromise before the looming deadline? senator robert casey and jec vice chairman tom brady joins us from texas. thank you for being here. you have a lot of things happening behind the scenes. senator casey, i know you have said what we're watching is a lot of drama and probably taking our eye off the ball in terms of what's happening. can you tell us if there's progress being made behind the scenes? >> i think there's a little bit too much attention paid to the back and forth every day. there's still a long way to go here and frankly a good bit of time to do it in.
you want to know how to fix the fiscal cliff? you have to raise taxes on those 250 above and cap deductions and a cap in deductions on everybody loon looks to be marginally acceptable. we'll have a chance to talk about that chart later but i hear you have some interesting guests on this issue coming up. >> we're talking about that chart and will catch you up later. also the joint economic committee will hold a hearing on the fiscal cliff. can congress come up with a compromise before the...
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cliff and he's real upset and angry and stuff and then the stocks all go down 10% because of that senator or congressman or that treasury guy and then you get a chance to buy high-quality companies kept down by washington. let's wait for the next gas bag to grab the mike and we'll get them cheaper. washington, will you please get out of our way? we've got a genuine boom brewing if only washington would rise above and set it free. "mad money" will be right back. >>> coming up -- fueling the future? there's new data out about the positive impact of natural gas on the u.s. economy and employment. could exporting this domestic power be our ticket to a bright future? and how could you hop aboard the trend? tonight, cramer drills down on the issue with dominion resources ceo. >>> and later, agita over apple. while the most coveted gifts are on everyone's wish list, worries weigh on investors. should you step in now or is the worst still to come? don't miss cramer's take. >>> plus -- welcome home? you've seen the headlines. the housing market appears to be roaring back to life. but if you think
cliff and he's real upset and angry and stuff and then the stocks all go down 10% because of that senator or congressman or that treasury guy and then you get a chance to buy high-quality companies kept down by washington. let's wait for the next gas bag to grab the mike and we'll get them cheaper. washington, will you please get out of our way? we've got a genuine boom brewing if only washington would rise above and set it free. "mad money" will be right back. >>> coming up...
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let me move on to your meeting with the president about the fiscal cliff. >> sure. it was optimistic. president very inclusive of business. he was open to a broad set of solutions that included all aspects, not just revenue, but spending and entitlement reform. >> so you actually felt that you saw a difference. you say it wasn't always like that. you saw a difference in the president in terms of listening and perhaps taking advice on what's to be done fiscally? >> the president had made comments he was trying to embrace the business community. he was very constructive. >> where do you think we come out on the fiscal cliff? are you expecting the economy to go over the fiscal cliff and see these taxes go high hadder and spending cuts take effect? >> my personal view is i'm still optimistic. i think the conversation has been constructive since. do we have a solution on the table yet? no. but i'm optimistic we'll get to a framework. >> why? >> there's been enough dialogue. there's been movement. everyone seems to recognize the problem. everybody realizes there has to be
let me move on to your meeting with the president about the fiscal cliff. >> sure. it was optimistic. president very inclusive of business. he was open to a broad set of solutions that included all aspects, not just revenue, but spending and entitlement reform. >> so you actually felt that you saw a difference. you say it wasn't always like that. you saw a difference in the president in terms of listening and perhaps taking advice on what's to be done fiscally? >> the...
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this is going to go right down to december 21st in avoiding the fiscal cliff. don't think anything differently. >> today one of the streets most bullish market watchers is is making a pretty bold prediction saying the s&p 500 is going to rally 17% by the end of next year. tony dwire joins us now. good to have you. >> thanks. >> i'm wondering how you're dealing with your predictions and your forecasting on the markets when you have such gyrations due to what's going on with the fiscal cliff. >> well, truthfully, you know, hopefully what makes me a little bit different on the street, i really try not to guess. what they're going to say, it's impossible. what i fall back to is what's the tactical outlook? we had a nice 5% move off of that low. our view is you've always retested that kind of intermediate term low. we're looking for a little pullback. ultima ultimately, don't fight the fed and don't fight the tape. when i talk to people, you kind of think about it. why isn't it follow the fed or follow the tape? because every cycle we think the fed is not going to d
this is going to go right down to december 21st in avoiding the fiscal cliff. don't think anything differently. >> today one of the streets most bullish market watchers is is making a pretty bold prediction saying the s&p 500 is going to rally 17% by the end of next year. tony dwire joins us now. good to have you. >> thanks. >> i'm wondering how you're dealing with your predictions and your forecasting on the markets when you have such gyrations due to what's going on with...
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the risk of the fiscal cliff. i point out one thing though, on this weakness, if you believe japan in 2013 is going to be the sleeper equities market that some do, then you want to own tiffany. >> delta, simon? >> singapore airlines in their talk to sell virgin atlantic to delta. richard branson, don't do it. we'll be buying peanuts again in six months. >> southwestern energy getting a pop. >> stephanie brought this to my attention earlier. there is some chatter out there this could be a potential acquisition candidate. obviously, never a great thing to chase or a reason to buy a stock but maybe a good reason to do some research. it's about a $12 billion company can. little bit of chatter, little bit of a pop today. something worth keeping on your radar if you like energy stocks. >> and how about unicorns? they're getting a pop today. hold on. north korea says it's found a union core. the state run news agency says that kim jong-il shot is 11 holes in one in a single game of golf says the dwelling was once inhabit
the risk of the fiscal cliff. i point out one thing though, on this weakness, if you believe japan in 2013 is going to be the sleeper equities market that some do, then you want to own tiffany. >> delta, simon? >> singapore airlines in their talk to sell virgin atlantic to delta. richard branson, don't do it. we'll be buying peanuts again in six months. >> southwestern energy getting a pop. >> stephanie brought this to my attention earlier. there is some chatter out...
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it's because the company blamed the fiscal cliff for its dramatically lower fiscal fourth quarter guidance which has sent the stock plummeting. it was down as much as 20% earlier today. the ceo joe kennedy says advertisers are being particularly cautious about spending in january which is included in pandora's fiscal fourth quarter. >> we did reduce guidance. i think it is very prudent because of this unique situation we have in which we're sensitive to the mix of ad spend in january as opposed to february and march. >> now, the last time pandora's stock dropped this much in one day was back in october on reports of apple preparing to launch a streaming music service. wall street analysts are keeping an eye on those very tough competitive issues as well as the fact that pandora spends over half its revenue on music licensing fees. the c.o.o. says he thinks the company is on good track and points to its mobile growth. though, investors do seem skeptical. brian. >> julia, thank you very much for that. we're going to leave it there. running a little short on time. is pandora's plunge a big bu
it's because the company blamed the fiscal cliff for its dramatically lower fiscal fourth quarter guidance which has sent the stock plummeting. it was down as much as 20% earlier today. the ceo joe kennedy says advertisers are being particularly cautious about spending in january which is included in pandora's fiscal fourth quarter. >> we did reduce guidance. i think it is very prudent because of this unique situation we have in which we're sensitive to the mix of ad spend in january as...
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>> yeah, i think while we're now focused on a lot of the down side risks not only from the fiscal cliff but obviously also from the eurozone crisis, we may have overlooked some of these up side potential for next year. so if we get a favorable resolution for the fiscal cliff, i think we can see interest rates move up quite sharply. that would be because expectations for growth could be much higher, so if growth is around the 2% in the first half of the year, we could be haufing over the 3% range in the second half of the rear. that would mean higher interest rates and that could be a very poor result for top quality bonds. >> and when you're talk about interest rates, you're talking about market rates as opposed to fed rates, right? >> the treasury rate, baseline underwhich say corporate bonds move. >> okay. you mentioned how much. so what would be the long term impact of that? >> in a very short amount of time, you could see say the ten year treasury yelled jump from current range of around 1.6% quickly up near 2.7% towards the middle of the year, we saw during previous fed quantitativ
>> yeah, i think while we're now focused on a lot of the down side risks not only from the fiscal cliff but obviously also from the eurozone crisis, we may have overlooked some of these up side potential for next year. so if we get a favorable resolution for the fiscal cliff, i think we can see interest rates move up quite sharply. that would be because expectations for growth could be much higher, so if growth is around the 2% in the first half of the year, we could be haufing over the...
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let's be aware, retail, shaky ground because of my friend, buddy pal, fiscal cliff. let's go to chris in connecticut, please, chris? >> caller: boo-yah. i want to know where you stand on -- >> i don't know, where i stand, it's already too high. this thing does not come in. i would prefer you to be in eqt, which i think i reiterated this morning and i think is much better. there are lots of people who say there will be blockbuster natural gas deals coming down the road and that's why cabot stays high, plus incredible marcellus holdings. when i first heard about it, it was through cog and i thought it was like veal, but it turned out to be a good place for natural gas. that is the conclusion of the "lightning round"! >> the "lightning round" is sponsored by td ameritrade. >>> coming up -- waiting for washington to rise above? get your portfolio prepared for whatever happens. call, tweet, or e-mail and find your way to the latest edition of "am i diversified." isk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the ma
let's be aware, retail, shaky ground because of my friend, buddy pal, fiscal cliff. let's go to chris in connecticut, please, chris? >> caller: boo-yah. i want to know where you stand on -- >> i don't know, where i stand, it's already too high. this thing does not come in. i would prefer you to be in eqt, which i think i reiterated this morning and i think is much better. there are lots of people who say there will be blockbuster natural gas deals coming down the road and that's why...
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back to the looming fiscal cliff. a deal to avoid the cliff remains uncertain as both sides continue to fight over tax code overhaul. we're joined at post 9 by virginia democratic senator gang of eight member senator mark warner. welcome. down to nyse. good to have you. >> thanks for having me. >> we read about dinners at your house. senators trying to work something out on the side. clearly it collides with headlines we got over the weekend. >> we all know what the frame of this deal has to be. you have to get additional revenues. you have to find a way to reform the entitlements and make additional cuts and get a net net of minimum of 4 trillion over ten years. that sounds like a big number but when you think about the size of our economy and size of government spending over a ten-year period, this is so much remarkably smaller than what's being asked of people throughout europe and people in the u.k. and throughout the world. my hope is we are going to get the deal done. >> we have three weeks or so to play with at
back to the looming fiscal cliff. a deal to avoid the cliff remains uncertain as both sides continue to fight over tax code overhaul. we're joined at post 9 by virginia democratic senator gang of eight member senator mark warner. welcome. down to nyse. good to have you. >> thanks for having me. >> we read about dinners at your house. senators trying to work something out on the side. clearly it collides with headlines we got over the weekend. >> we all know what the frame of...
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let's quit having these fiscal cliffs. and let's not be threatening government shut downs. let's sit down in a good faith effort and that's what president obama is not doing. he's back on the campaign trail which will is unfortunate. he should be in washington here sitting down in a good faith effort to try and grow the economy. because that's ten times more effective. >> senator, what are the odds that you think we reach an agreement before january 1st? >> that's just hard to say. there are enough republicans that are showing a willingness and i'm certainly willing to sit down with anybody who is willing to negotiate in between faith. my guess is we probably will get it solve, but i hope item not done in a way that harps tms th economy. but the president has to show us his balanced plan. >> as you said yourself, probably not the way to do to negotiate either on television or in front of everybody. that's probably happening behind the scenes. >> becky, that's not negotiating. that's called putting your plan on the table. republicans have passed two budgets. we have a bipart
let's quit having these fiscal cliffs. and let's not be threatening government shut downs. let's sit down in a good faith effort and that's what president obama is not doing. he's back on the campaign trail which will is unfortunate. he should be in washington here sitting down in a good faith effort to try and grow the economy. because that's ten times more effective. >> senator, what are the odds that you think we reach an agreement before january 1st? >> that's just hard to say....
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it is more a fiscal mole hill next year than a fiscal cliff. but offsetting that is an economy which is firing on many more cylinders than it was a year ago. employment rate's coming down. bank lending rising, housing activity going up, confidence is down, debt burdens are down. in addition there is a lot of stimulus. money supply is growing rapidly. record low mortgage rates. we have the dollar down. we got gas prices falling at the pump for the holiday season. we've got inflation decelerating from where it was helping real incomes. i'm seeing a lot of evidence of china showing signs of new acceleration. we might get the emerging world doing better next year. we've certainly calmed down concerns about the eurozone. so i think there's a real case that we grow 3%, the emerging world picks up, and the valuation on equities rises -- >> even if we don't get a deal in taxes? we hear that the average family will pay $1,200 more in taxes over the year and it is going to doom the economy. it's instant recession. >> well, there's no doubt if we have com
it is more a fiscal mole hill next year than a fiscal cliff. but offsetting that is an economy which is firing on many more cylinders than it was a year ago. employment rate's coming down. bank lending rising, housing activity going up, confidence is down, debt burdens are down. in addition there is a lot of stimulus. money supply is growing rapidly. record low mortgage rates. we have the dollar down. we got gas prices falling at the pump for the holiday season. we've got inflation decelerating...
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the fiscal cliff is just a small down payment on paying the piper. we have to pay for all this government. the big mistake is growing government. >> although there's a room for balance, i don't say peter's wrong entirely, the fact of the matter is the top 2% are not paying their fair share. american people don't think so. the numbers don't add up. if you want a deal here, you're going to have to raise the rates and then if you want to talk about spending cuts, as i think the president will eventually do, you'll see a last-minute agreement. >> first of all, i'm in the top 2%. i'm paying 45% of my total income in income tacks boxes to state of connecticut and the government. >> you need a better accountant, peter. >> more than half of my income is going to go to the government. you tell me, what's fair about that? >> i'll tell you what's fair about that -- >> i'm paying half. excuse me. i don't care what the majority voted to do. they don't have a right to steal my money just because they vote for it. >> i'll tell you what the problem is. we're in a cr
the fiscal cliff is just a small down payment on paying the piper. we have to pay for all this government. the big mistake is growing government. >> although there's a room for balance, i don't say peter's wrong entirely, the fact of the matter is the top 2% are not paying their fair share. american people don't think so. the numbers don't add up. if you want a deal here, you're going to have to raise the rates and then if you want to talk about spending cuts, as i think the president...
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that is dynamite. >> for the fiscal cliff. a dance off. >> thanks, simon. >> have a good weekend. >> you too. >>> let's check on energy and commodities. sharon epperson at the ime x this morning. >> not dancing down here carl but they are trying to figure out what is happening here with the u.s. fiscal cliff as well as in europe and in fact it is the situation in europe that really has helped to take the euro to a key level here right around 130 and that has helped some of the industrial commodities like oil and copper which are faring slightly better today. but only slightly. we're really not seeing much movement at all particularly when you look at the price of crude oil with bret crude right around $110 a barrel and wti futures under that 88.50 level. we haven't seen much movement in a whole week's time where we're basically where we were last friday. there has been of course volatility throughout the week. every headline that crosses about the fiscal cliff definitely sends traders fretting one way or another but there hasn
that is dynamite. >> for the fiscal cliff. a dance off. >> thanks, simon. >> have a good weekend. >> you too. >>> let's check on energy and commodities. sharon epperson at the ime x this morning. >> not dancing down here carl but they are trying to figure out what is happening here with the u.s. fiscal cliff as well as in europe and in fact it is the situation in europe that really has helped to take the euro to a key level here right around 130 and that...
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especially if really things settle down in the fiscal cliff debate. >> this is countertrench rate. if you are doing a spread you want it to be a spread. the second thing is you don't want to risk a lot to make a little bit. mike is not doing that. he has almost a coin flip which is what you want to do. again, a counter trend trade. >> one more time here on the stocks versus options button. that could be priceless, as in you could lose all your money. shorting any stock carries unlimited risk. mike's call spread sale can make money and defines the risk to just $300. not bad. our thanks as always to carter braxton worth. got a question send us a tweet. the address is @cnbcoptions. we'll answer it in our web extra right after the show on our website you'll find trade updates and great trader blogs, as well. >>> coming up next which of these stocks do options traders see you paying a special dividend? scott nations will name names. here is what else is coming up. >>> you can call him an apple genius. mike's trade made money whether the stock went up, down or nowhere at all. how did he
especially if really things settle down in the fiscal cliff debate. >> this is countertrench rate. if you are doing a spread you want it to be a spread. the second thing is you don't want to risk a lot to make a little bit. mike is not doing that. he has almost a coin flip which is what you want to do. again, a counter trend trade. >> one more time here on the stocks versus options button. that could be priceless, as in you could lose all your money. shorting any stock carries...
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geithner and the fiscal cliff. is he pushing us closer to or farther from the fiscal cliff. and doubling down on dividends. we've got an out of the box ets flight that can get you in on the pay day windfall that's taking shareholders by storm. plus, linked-in gets original. the executive editor will reveal why the company's move into original content could be a game changer. we'll get to those trades in a minute. let's get to the top story right away. apple misses the rally. the dow closed at a one month high but the trouble continues for apple posting its worst day in nearly four years. the stock falling back into bear market territory weighing on the nasdaq throughout the entire session in terms of price action, terrible. pretty heavy volumes closing two pennies off the low of the session deep. >> it was terrible. i'm trying to be measured here because i understand how -- >> you don't want to insult apple. >> that's not what we're attempt to go do. we're trying to help them. last night to a person we thought it would go lower. we didn't do that to hurt people, we did it be
geithner and the fiscal cliff. is he pushing us closer to or farther from the fiscal cliff. and doubling down on dividends. we've got an out of the box ets flight that can get you in on the pay day windfall that's taking shareholders by storm. plus, linked-in gets original. the executive editor will reveal why the company's move into original content could be a game changer. we'll get to those trades in a minute. let's get to the top story right away. apple misses the rally. the dow closed at a...
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of the action downtown at the nyse. >> stocks are slightly lower right now despite those fiscal cliff anxieties. they've been pretty steady throughout the day. the s&p 500 broke above its 50-day moving average, believe it or not. earlier in the day it's backed off a little bit. economic news and new data shows u.s. manufacturing falling to its lowest level in three years. and there is a little nervousness about the president taking to twitter at 2:00 p.m. eastern time to talk about the fiscal cliff negotiations that are going on. but it is the first trading day of the month and some on wall street are getting bullish for year end. it is going to be a december to remember, i predict it. >> i think this is one of the reasons we're holding up so well, because december is the best month of the year and we roll into january which is also a very good month. let me show you some sectors that do especially well in the month of december. there's major sectors here. this is the best performing sectors in the month of december, averaged over the last ten years. you can see it is a diverse group
of the action downtown at the nyse. >> stocks are slightly lower right now despite those fiscal cliff anxieties. they've been pretty steady throughout the day. the s&p 500 broke above its 50-day moving average, believe it or not. earlier in the day it's backed off a little bit. economic news and new data shows u.s. manufacturing falling to its lowest level in three years. and there is a little nervousness about the president taking to twitter at 2:00 p.m. eastern time to talk about...
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you're worried about what happens if we go over the fiscal cliff. play out the scenario for how things would go down if we actually do move past january 1 without an agreement. >> if you get lots of economist projections, you'll see the general view is the economy would have negative growth or a couple percentage points, whatever it is. near term recession impact. and that nt would be good to the economy because it's been moving its way out. what's really after people is will we be serious about fixing the long term problems of america's fiscal situation. basically having more revenue and less expenses so we can get the thing more if line. and that's pre-occupying people because they're worried about the longer term issue. if this doesn't move forward with a solution that actually starts to layout the ground work for the long term issues, it could be potentially disappointing. >> ceos say they have to lay out their plans for what they're planning on doing in january and they have to move forward with the plan that has an assumption that we don't get
you're worried about what happens if we go over the fiscal cliff. play out the scenario for how things would go down if we actually do move past january 1 without an agreement. >> if you get lots of economist projections, you'll see the general view is the economy would have negative growth or a couple percentage points, whatever it is. near term recession impact. and that nt would be good to the economy because it's been moving its way out. what's really after people is will we be...
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a best-selling author and a top expert on negotiations breaks down the current fiscal cliff talks. is there a method behind what appears to be political madness? in advance of friday's jobs report, a surprising new look about what kind of companies are actually creating new jobs in this economy? we'll have some of the best job creators next hour. and, three things you need to understand about the new facebook messaging announcement. join us on "power." back to scott. >>> we'll see you in about 15 minutes. sometimes it's tough to buy the losers and sell the winners. you know that. let's play a little hold them or fold them, what stocks have made big moves of late. marathon petroleum up more than 78% year to date. joe, hold them or fold them? >> absolutely hold them. you're talking about a mid continent refiner here. secular momentum, clearly a strategy here like rg3 with your redskins, the game has changed and it's changed for years. >> all right. dish network, the stock five-year high, 45% move this year. hold them, fold them? >> i'm folding. i like the cable. not just because of c
a best-selling author and a top expert on negotiations breaks down the current fiscal cliff talks. is there a method behind what appears to be political madness? in advance of friday's jobs report, a surprising new look about what kind of companies are actually creating new jobs in this economy? we'll have some of the best job creators next hour. and, three things you need to understand about the new facebook messaging announcement. join us on "power." back to scott. >>>...
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that is primarily because people are worried about the fiscal cliff. we don't think that the outcome is completely negatively priced into the market. that is more or less where we stand on that. i do think that there is a couple of great trends for next year which includes europe with the recovery there as it relates to corporate restructuring and banks selling assets. and we also think that there will be funds like john paulson's recovery fund to do well. >> as we head into the end of the year, is there no chase per performance? is there no pressure on the part of hedge funds to make up for that in the last few weeks of the year? >> there is no question that there is pressure. i think that you saw net long exposure widen out and get into the 50s but with the rhetoric coming out of washington now if you asked me three weeks ago if i thought a deal was going to get done i would have said yes. it does seem like a chicken fight here towards the end. if a deal does not get done that will have a very negative effect on markets. that is our opinion reflected
that is primarily because people are worried about the fiscal cliff. we don't think that the outcome is completely negatively priced into the market. that is more or less where we stand on that. i do think that there is a couple of great trends for next year which includes europe with the recovery there as it relates to corporate restructuring and banks selling assets. and we also think that there will be funds like john paulson's recovery fund to do well. >> as we head into the end of...
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it could be called the ultimate fiscal cliff trade. find out which investment americans are pouring into. much more straight ahead. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare. >>> welcome back to "fast money." oracle the latest company making a tax dividend. going to pay out a total of more than $850 million
it could be called the ultimate fiscal cliff trade. find out which investment americans are pouring into. much more straight ahead. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. music is a universal...
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if we go across the fiscal cliff, we will have an economic contraction or slow down at best. >> how are things looking right now ahead of the holidays? i'm sure your company is real busy, fedexing gifts. what are your expectations for this holiday season? >> well, you know, the 300,000 wonderful teammates of fedex are working very hard. we publicly forecast a couple weeks ago that on the 10th we would move 19 million shipments through our network. that's up about 11% year over year. e-commerce is causing a significant amount of growth. retail sales are going to be up some place in the 3.5% and 4%. we think absent going over the cliff and absent tax reform, u.s. gdp around 2% next year. worldwide, about 2.5%. >> real quick, we have to ask you your plans. you had said at some point you would leave the ceo role as soon as 2013. is that still in the cards? what's the succession plan? >> well, we have a strong team at fedex that manages the company. the strategic management committee of nine people. lots of people that can do my job without missing a beat. i don't have any plans to go any pl
if we go across the fiscal cliff, we will have an economic contraction or slow down at best. >> how are things looking right now ahead of the holidays? i'm sure your company is real busy, fedexing gifts. what are your expectations for this holiday season? >> well, you know, the 300,000 wonderful teammates of fedex are working very hard. we publicly forecast a couple weeks ago that on the 10th we would move 19 million shipments through our network. that's up about 11% year over year....
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Dec 4, 2012
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i think we go into a recession with lots of layoffs and the fiscal cliff was designed to pr compromise. everyone knew about the growth. fewer jobs, larger deficit. as i said last night, it doesn't matter, we can pick our stocks and buy them down. ulta salons, but i want to suggest to other groups that are going to give you bang for the buck, betting that the hope will be squeezed out and the bottom gets put in before a deal is made. why not? we know the auto market is for 11 years now and we have been sweet on ford domestically. what are some of the other key areas. asia already turned. i think europe could be stablized. ford is the one to watch. i'm out blessing it. in europe i'm thinking that i'm excited about ford. we have ample evidence today that i'm right. the rates remained too low. and pricing is moving up in california, nevada, arizona all things we learned from the luxury home builder toll today. that is fine. but what i hadn't heard is a demographic play, how the demographics are going to take over. household formation is unnatural and because of the great resection. well, f
i think we go into a recession with lots of layoffs and the fiscal cliff was designed to pr compromise. everyone knew about the growth. fewer jobs, larger deficit. as i said last night, it doesn't matter, we can pick our stocks and buy them down. ulta salons, but i want to suggest to other groups that are going to give you bang for the buck, betting that the hope will be squeezed out and the bottom gets put in before a deal is made. why not? we know the auto market is for 11 years now and we...
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Dec 6, 2012
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what do average americans want to see in a fiscal cliff solution. we've got the exclusive results of our exclusive cnbc all-america economic survey. >>> now to everybody's all-american, sue herera standing by at the nyse. >> you're sweet, ty. thanks. >>> we're a little bit on the downside. we really kind of retraced a little bit on the dow jones industrial average. previous to this we were solidly in the green in all three of the major market indices. the dow now down 14 1/2 points. nasdaq up eight. the s&p is down just a fraction. of course we are also watching apple on the back of yesterday's drop. the stock today is traded up $4.82. that's just under a percentage move to the plus side. it's rebounding, still at bear market territory, however. it has lost over $50 billion in market cap over the past few days alone. our bob pisani joins me here on the floor of the nyse. what are you hearing from traders? the market is drifting a little bit. the focus is on apple. there seems to be a little bit of enthusiasm that it can come back to the up side. >>
what do average americans want to see in a fiscal cliff solution. we've got the exclusive results of our exclusive cnbc all-america economic survey. >>> now to everybody's all-american, sue herera standing by at the nyse. >> you're sweet, ty. thanks. >>> we're a little bit on the downside. we really kind of retraced a little bit on the dow jones industrial average. previous to this we were solidly in the green in all three of the major market indices. the dow now down 14...
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Dec 6, 2012
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. >> tom, business investment was down 2.2% in the latest gdp report, and a lot of that is fiscal cliff tied to that. when do you see business investments starting to pick up, because we all kind of know the housing story, we know consumers kind of hung in. i think actually the next big upside could be a business investment, if it comes back but when does that come, in your opinion? >> it's a tricky question because there's two dynamics when we talk about business investment, it's capital spending which has a huge tech component, but it's also construction activity because it's building out the commercial infrastructure, health care, roads, et cetera, that associate with capital spending itself. companies can be cautious and we know there are multi, multidecade levels of cautiousness given their cash and where spending is and at some point pure replacement has to take over. that's really what sparked the recovery in housing, we were scrapping so many homes and you had organic growth. i think we're getting to the break point soon. >> tom, let me ask you about a couple of your picks befor
. >> tom, business investment was down 2.2% in the latest gdp report, and a lot of that is fiscal cliff tied to that. when do you see business investments starting to pick up, because we all kind of know the housing story, we know consumers kind of hung in. i think actually the next big upside could be a business investment, if it comes back but when does that come, in your opinion? >> it's a tricky question because there's two dynamics when we talk about business investment, it's...
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Dec 6, 2012
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fiscal cliff or not, china, europe, whatever, the s&p 500 up 12.1% year to date. that is a good year. that is an optimistic year. why is that? >> it seems like we're forgetting about that, doesn't it? with all this talk about what's happening going forward and concern about corporate growth. and truly, we're concerned about corporate growth as well because there really hasn't been that long-term information from our government, from our policyholde policyholders, no economic policy in real investment in assets that we've seen. that's going to be a problem going forward, not to mention the global slowdown, and we're hitting the top of corporate profits now. >> so you don't agree with this. you're turning bearish. >> not bearish in a sense of going forward intermittently. we think that most likely, we're going to see some growth hitting in the second quarter of next year. until we get through this fiscal cliff nonsense, until we see some growth coming out of china and europe, i think that -- >> china i think is showing growth. europe may not show growth in my lifeti
fiscal cliff or not, china, europe, whatever, the s&p 500 up 12.1% year to date. that is a good year. that is an optimistic year. why is that? >> it seems like we're forgetting about that, doesn't it? with all this talk about what's happening going forward and concern about corporate growth. and truly, we're concerned about corporate growth as well because there really hasn't been that long-term information from our government, from our policyholde policyholders, no economic policy in...